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David Geffen
| birth_place = New York City, U.S. | death_date = | death_place = | alma_mater = University of Texas at Austin | occupation = Founder of DreamWorks SKG/Dreamworks Records, Asylum Records, Geffen Records/Geffen Pictures, and DGC Records | employer = | relatives = | sons = | networth = US$8.6 billion (September 2018)"David Geffen". Forbes. Retrieved 22 September 2018. }} David Lawrence Geffen (born February 21, 1943)Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, p. 12, Broadway Books (New York 2001). is an American business magnate, producer, film studio executive, and philanthropist. Geffen created or co-created Asylum Records in 1970, Geffen Records in 1980, DGC Records in 1990, and DreamWorks SKG in 1994. As philanthropist he has donated to the David Geffen School of Medicine at UCLA and other educational and research institutes. Early life David Geffen was born in Borough Park, Brooklyn, New York, to Abraham Geffen and Batya Volovskaya (1909—1988). Geffen's mother owned a clothing store in Borough Park called Chic Corsets by Geffen. Internet Movie Database, bio, "David Geffen", at https://www.imdb.com/name/nm0311691/bio. Both of his parents were Jewish immigrants who met in British-mandated Palestine and then moved to the United States. Geffen graduated from Brooklyn's New Utrecht High School in 1960 with a 66 percent average. He attended the University of Texas at Austin for a semester, and then Brooklyn College, before again dropping out. He then moved to Los Angeles, California to find his way in the entertainment business. He attended Santa Monica College (then known as Santa Monica City College) in Santa Monica, California, but soon left. Geffen attributed his challenges in school to dyslexia.About: Inventing David Geffen PBS, 2012-11-07. Business career After a brief appearance as an extra in the 1961 film The Explosive Generation, Geffen began his entertainment career in the mailroom at the William Morris Agency (WMA), where he quickly became a talent agent. In order to obtain the WMA job, he had to prove he was a college graduate. As he later reported in an interview, he claimed in his job application at WMA that he had graduated from the University of California at Los Angeles (UCLA). Because he worked in the mailroom, Geffen was able to intercept a letter from UCLA to WMA which stated that he had not graduated from UCLA. He modified the letter to show that he had attended and graduated, then submitted it to WMA. His colleagues in the mailroom included Elliot Roberts, who later became Geffen's partner in a management company. Geffen left William Morris to become a personal manager and was immediately successful with Laura Nyro and Crosby, Stills and Nash. When Geffen was engaged in the process of looking for a record deal for young Jackson Browne, Atlantic Records founder Ahmet Ertegün suggested that Geffen start his own record label. Asylum Records Geffen founded Asylum Records in 1970 (with Elliot Roberts) after Geffen was unable to get Jackson Browne a record deal anywhere else. The name Asylum was chosen because of the owners' reputations for signing artists who would struggle to find a record company that would contract with them. The label was distributed by Atlantic Records at this time. Asylum signed artists such as the Eagles, Joni Mitchell, Bob Dylan, Tom Waits, Linda Ronstadt, Warren Zevon, Judee Sill, and J.D. Souther. Asylum was later acquired by Atlantic's parent company, Warner Communications, and merged with Elektra Records in 1972 to become Elektra/Asylum Records. Geffen remained in charge until December 1975, when he went to work as vice chairman of Warner Bros. film studios.Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, pp. 261-262, Broadway Books (New York 2001). He then retired and in 1977 was informed (erroneously) that he had cancer.Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, p. 282, Broadway Books (New York 2001). During his retirement period he spent a short time (the fall of 1978 and spring of 1979) teaching a noncredit seminar on the music industry and arts management at Yale University, where he featured classroom guests Jackson Browne and Paul Simon.Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, p. 294, Broadway Books (New York 2001). In 1980 a new medical diagnosis revealed the error in the original diagnosisTom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, pp. 296-297, Broadway Books (New York 2001). and Geffen was given a clean bill of health, whereupon he decided to return to working in the entertainment industry. Geffen Records In 1980, he founded Geffen Records and recruited Warner Bros. Records exec Ed Rosenblatt as president. The Geffen label's meteoric rise to prominence within the year proved a bittersweet success. Geffen's first artist to sign on was Donna Summer, who was anxious to leave Casablanca/PolyGram Records. Geffen shortly after released her The Wanderer album, the lead single of which reached #3 on the ''Billboard'' Hot 100, and the album certified gold. Casablanca countered by releasing more singles off her 1979 Bad Girls album such as the song Walk Away and a similarly named hits compilation to compete, but by then New Wave sound was dominating the airwaves. The November 1980 release of John Lennon's album Double Fantasy seems an impressive feat for a new label, but at the time Lennon stated that Geffen was the only one with enough confidence in him to agree to a deal without hearing the record first. Yoko Ono, Lennon's wife and partner, stated that Geffen was the only label head to pay attention to her. In December 1980, Lennon was murdered and Double Fantasy became a massive seller. Over the years Geffen Records/DGC has become well known as a label, releasing works by the likes of Olivia Newton-John, Asia with Steve Howe and John Wetton, Elton John, Cher, Sonic Youth, Aerosmith, Whitesnake, XTC, Peter Gabriel, Lone Justice, Blink-182, Guns N' Roses, Nirvana, Lifehouse, Tyketto, Pat Metheny, Sloan, the Stone Roses and Neil Young. The label was distributed by Warner Bros. Records since its inception but, in 1990, the label was sold to MCA Records. Geffen continued to run the label before leaving Geffen Records in 1995. The Geffen label is today is part of the Interscope-Geffen-A&M division of MCA's successor, Universal Music Group, formed as the result of the 1999 merger between the MCA and PolyGram families of labels. Geffen Film/DreamWorks SKG Through the Geffen Film Company, Geffen produced dark-tinged comedies such as (the 1986 version of) Little Shop of Horrors, Risky Business and Beetlejuice. Geffen was the Broadway backer for the musicals Dreamgirls and Cats. In 1994, Geffen co-founded the DreamWorks SKG studio with Steven Spielberg and Jeffrey Katzenberg. In 2008, Geffen left DreamWorks.Michael Cieply, "David Geffen, Savior of Dream Works, Makes a Sudden Exit," Oct. 27, 2008, The New York Times. Coastal access Until 2017 Geffen owned a Malibu compound on Carbon Beach. In 1983 Geffen was granted permits from the California Coastal Commission to build a Cape Cod-style compound over multiple beachfront lots in exchange for creating a public pathway to the beach. He failed to build that pathway and in 2002 filed a lawsuit to block public access altogether. After a protracted three-year legal battle, Geffen reached a settlement with the Coastal Commission, granting the public a nine-foot-wide easement to the beach and reimbursing the state and non-profit groups $300,000 in legal fees. The pathway was opened on May 30, 2005 to national and international media coverage. The controversy has been called the "most famous Malibu battle" for beach access. The Coastal Commission later contacted the state transportation department without receiving a response to ask if the curb cuts that prevented public parking were valid, amid rumors that Geffen had installed four fake garage doors. Philanthropy Geffen has developed a reputation as a prominent philanthropist for his publicized support of medical research, AIDS organizations, the arts and theatre. In 1995 he donated $5 million towards UCLA's Westwood Playhouse. The theatre was renamed the Geffen Playhouse. According to Forbes ("The 400 Richest Americans of 2004") and other sources, Geffen has pledged to give whatever money he makes from now on to charity, although he has not specified which charities or the manner of his giving. In 2002, he announced a $200 million unrestricted endowment for the School of Medicine at UCLA. The School thereafter was named David Geffen School of Medicine at UCLA. Along with Kenneth Langone's gift to New York University School of Medicine, Geffen's donation is the largest donation ever made to a medical school in the United States. On December 13, 2012, UCLA announced that Geffen had donated another $100 million in addition to his 2002 donation of $200 million, making him the largest individual benefactor for the UC system. The latest donation funds the full cost of attendance for up to 30 students per year, beginning with the Class of 2017. In 2015, Geffen pledged $100 million toward renovation of what was then called Avery Fisher Hall, part of Lincoln Center for the Performing Arts in New York. His gift, which amounted to about 20% of the hall's renovation costs, gave him naming rights in perpetuity over the building, now known as David Geffen Hall. Politics He was an early financial supporter of President Bill Clinton. In 2001 he had a falling out with the former president over Clinton's decision not to pardon Leonard Peltier, on whose behalf he had lobbied the President. Geffen was an early supporter of Barack Obama for president and raised $1.3 million for Obama in a star-studded Beverly Hills fundraiser. On February 21, 2007, in an interview with Maureen Dowd of The New York Times, Geffen described Hillary Clinton and Bill Clinton in unflattering terms: "Everybody in politics lies, but they do it with such ease, it's troubling." He said that Hillary Clinton was "incredibly polarizing" and described Bill Clinton as "reckless" and cast doubt on those who say he has become a different person since leaving office. Along with other celebrities including Steven Spielberg and Brad Pitt, Geffen donated money to try to prevent Proposition 8 from becoming law in California. Awards and honors Geffen was named one of the 2010 recipients of Ahmet Ertegun Award from the Rock and Roll Hall of Fame. Geffen was awarded with the President's Merit Award for "indelible contributions to the music industry" from the National Academy of Recording Arts and Sciences at the 53rd Grammy Awards in February 2011. Personal life Geffen has an estimated net worth of $8.6 billion, making him one of the richest people in the entertainment industry. Geffen came out as gay in 1992. In May 2007, Out magazine ranked Geffen first in its list of the fifty "Most Powerful Gay Men and Women in America". Joni Mitchell and Geffen were close friends and, in the early 1970s, made a trip to Paris with Robbie Robertson and Robertson's wife, Dominique. As a result of that trip, Mitchell wrote "Free Man in Paris" about Geffen.Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, p. 192, Broadway Books (New York 2001). Geffen can be heard on Barbra Streisand's The Broadway Album, released in 1985. The track "Putting It Together" features Geffen, Sydney Pollack, and Ken Sylk portraying the voices of record company executives talking to Streisand. Geffen is the subject of several books, most recently The Operator: David Geffen Builds, Buys, and Sells the New Hollywood (2001) by Tom King, who initially had Geffen's cooperation, but later did not. An earlier biography was The Rise and Rise of David Geffen (1997) by Stephen Singular. He is also a featured character in Mailroom: Hollywood History From The Bottom Up by David Rensen, in Mansion On The Hill by Fred Goodman, in Hotel California by Barney Hoskyns, and in several books about Michael Ovitz. He was the subject of an American Masters PBS television documentary entitled Inventing David Geffen. The documentary was directed by Susan Lacy and was first broadcast on 20 November 2012. His older brother Mitchell (born Mischa) Geffen (1933–2006) was an attorney who attended UCLA Law SchoolSee generally Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, p. 31, Broadway Books (New York 2001). and later settled in Encino, California. Mitchell Geffen fathered two daughters, who are David's closest surviving relatives. Art collection Geffen is a keen collector of American artists' work, including Jackson Pollock, Mark Rothko and Willem de Kooning. According to the chief curator at the Museum of Contemporary Art in Los Angeles, Paul Schimmel: "There's no collection that has a better representation of post-war American art than David Geffen's." In October 2006, Geffen sold two paintings by Jasper Johns and a De Kooning from his collection for a combined sum of $143.5 million. On November 3, 2006, The New York Times reported that Geffen had sold Pollock's 1948 painting No. 5, 1948 from his collection for $140 million (£73.35 million) to Mexican financier David Martinez. Martinez is the founder of London-based Fintech Advisory Ltd, a financial house that specializes in buying Third World debt. The sale made No. 5, 1948 the most expensive painting ever sold (outstripping the $134 million paid in October 2006 for Gustav Klimt's portrait Portrait of Adele Bloch-Bauer I, purchased by cosmetics heir Ronald Lauder). Wealth-X reported in June 2013 that Geffen owns the most valuable private art collection in the world, and estimated its worth at $1.1B at the time. In February 2016, Bloomberg News reported that Geffen had sold De Kooning's 1955 oil painting, Interchanged, for $300 million, and Pollock's 1948 painting, Number 17A, for $200 million, both to hedge fund billionaire Ken Griffin."Billionaire drops $500M for 2 masterpieces," Feb. 19, 2016, Bloomberg News, as republished by Fox News, at http://www.foxnews.com/us/2016/02/19/billionaire-drops-500m-for-2-masterpieces.html?intcmp=hpbt4. Yachts In 2007, Geffen bought a half-share in friend Larry Ellison's luxury yacht ''Rising Sun'', then at the sixth largest motor yacht in the world. After Ellison ordered a new and more compact yacht, he sold his remaining half share in Rising Sun to Geffen in 2010. In 2009, Russian billionaire Roman Abramovich agreed to a divorce settlement with his wife Irina that resulted in her taking ownership of the yacht ''Pelorus''. Approached on Geffen's behalf by broker Merle Wood, Geffen bought Pelorus in 2011 for $300 million. In 2011 Geffen sold Pelorus to Sheikh Abdullah bin Zayed bin Sultan Al Nahyan for 214 million euros . See also * Geffen Playhouse References External links * * * * Forbes.com: Forbes World's Richest People * Is David Geffen gearing up to buy the LA Times? * * 'I Remember David Geffen', by Steve Holt Category:1943 births Category:20th-century American businesspeople Category:21st-century American businesspeople Category:American billionaires Category:American chief executives Category:Film producers from New York (state) Category:American film studio executives Category:American film production company founders Category:American music industry executives Category:American talent agents Category:American theatre managers and producers Category:Businesspeople from New York City Category:Gay men Category:Jewish American art collectors Category:Jewish American philanthropists Category:LGBT businesspeople from the United States Category:LGBT entertainers from the United States Category:LGBT Jews Category:LGBT people from California Category:LGBT people from New York (state) Category:Living people Category:People from Borough Park, Brooklyn Category:Philanthropists from California Category:Santa Monica College alumni Category:People named in the Panama Papers Category:Philanthropists from New York (state) Category:New Utrecht High School alumni